On the surface, our application is very focused on individual consumers, as it is a way for environmentally conscious online shoppers to contribute towards creating a more sustainable world. However, at the core, it provides a way for large financial institutions and payment providers to take advantage of the increased number of transactions made in online marketplaces.
Not only that, but this is just one example of how we can use the explosion of new information that have been made accessible to both individuals and organizations, to enrich existing payment information, and to develop quickly, new and previously improbable products.
Specifically, our application, through prompting users to make payments on top of their online purchases to offset the carbon footprint of shipping their purchases and by providing this opportunity even after their purchase has been made, creates new opportunities to not only contribute to sustainability, but also increase the number of potential credit card transactions per individual product bought online to fund more banking products, such as reward programs.
Moving forward with our product, we have three thngs in mind:
First is developing our own API enhancing the existing ecosystem of both financial and environmental intelligence
Second is creative ways to use the money collected from this application. For example, we could start a micro-fund to loan to small businesses, who are focused on sustainability, or who may have been hurt by the rapid closing of in-person stores as a result of the pandemic
Third, is to convert our web application, which is already focused specifically for mobile users, into a progressive web app which includes a highly accessible mobile widget.